All-American SportPark Announces 2000 Results.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--April 2, 2001

All-American SportPark Inc. (Nasdaq:AASP) reported revenues from continuing operations for 2000 of $2,457,832 compared to $2,192,095 in 1999.

The company reported operating income in 2000 of $117,339 compared to an operating loss in 1999 of $447,122. Net loss from continuing operations was $94,303 or $0.03 per share in 2000 compared to $401,708 or $0.13 per share in 1999. The lower net loss in 2000 is the result of a 13% increase in revenue at the Company's Callaway Golf Center property coupled with an 11% decrease in overall costs.

Ron Boreta, President of the Company, stated: "We are pleased with the progress we have made in regards to our continuing operations. The aggressive cost containment strategies we implemented in the latter part of 1999 have resulted in getting the Company very close to bottom line profitability. The Callaway Golf Center continues to do very well in terms of ever increasing visitation, revenue and earnings growth, and positive cash flow. We are in the midst of new opportunities to strengthen our revenue base and, at the same time, continue producing a one of a kind golf experience for our customers. We expect these positive trends to continue as we hone our cost containment and revenue growth strategies."

In December 2000, the Company implemented a formal plan to dispose of its SportPark business segment. In that regard, all activity of the SportPark has been presented as discontinued operations. Total loss from discontinued operations was $11,031,408 or $3.51 per share in 2000 compared to $3,417,079 or $1.14 per share in 1999. The larger net loss in 2000 is the combined result of higher interest expense on the primary SportPark note payable due to it being in default since September 1999 and a non-cash write-down of $6.5 million of the SportPark assets to their estimated net realizable value. The Company is in active discussions with several prospects to lease/buy the SportPark property. The Company expects to dispose of its interest in the SportPark sometime in 2001 although it remains uncertain whether the Company will retain any continuing interest in the SportPark.

All-American SportPark Inc. is two-thirds owned by Sports Entertainment Enterprises Inc. (OTCBB: SPEN).

The Company and its subsidiaries' continuing operations consist of the 100% ownership and operation of the Callaway Golf Center, one of the premier golf practice facilities in the country located on 42 acres of Las Vegas "Strip" frontage featuring a night-lit 9-hole par 3 golf course, 113 station two-tiered driving range, full clubhouse featuring the Callaway Golf club fitting swing analyzer, the Saint Andrews Golf Shop with all the latest in Callaway merchandise, the Giant Golf teaching academy, and the Bistro 10 restaurant and bar.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. Important factors, which could cause actual results to differ materially from those in the forward-looking statements, are detailed in filings with the United States Securities and Exchange Commission made from time to time by AASP, including its annual report on Form 10-KSB for the year ended December 31, 2000. AASP undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

             All-American SportPark Inc. and Subsidiaries
                Consolidated Statements of Operations
              for the Years Ended Dec. 31, 2000 and 1999

                                                2000           1999

Revenues                                   $2,457,832      $2,192,095
Cost of Revenues                             (436,612)       (423,944)
Gross profit                                2,021,220       1,768,151
Operating expenses                         (1,903,881)     (2,215,273)
Operating income (loss)                       117,339        (447,122)
Interest expense, net                        (211,642)       (223,918)
Income tax benefit                                  -         269,332
Loss from continuing operations               (94,303)       (401,708)
Loss from discontinued operations         (11,031,408)     (3,417,079)
Net loss                                  (11,125,711)     (3,818,787)

NET LOSS PER SHARE:

  Basic and Diluted:
    Loss from continuing operations           $ (0.03)        $ (0.13)
    Loss from discontinued operations           (3.51)          (1.14)
   Net loss per share                         $ (3.54)        $ (1.27)